The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-05-08
MAYOR HEWITT AND EX-MAYOR
COOPER, OF NEW YORK,
Propose to Turn Over Their Great
iron Works, at Trenton, N.
j., TO Their
WORKINGMEN, TO BE RUN ON
THE COOPERATIVE PLAN.
On Their Guaranteeing Six Per Cent.
Per Annum on the Plant
Interviews.
Isprc1AL TO TER APPEAL.


OF the laboring mans condition, and
on a very large scale. The report
comes from q prominent Knight OF
Labor in the busy town Of Trenton,
N. j., where the great iron works of
Mayor Hewitt, Of this city, are locat-
ed 1t is nothing less than the fact
that Mayor Hewitts iron manufact-
uring firm, stimulated by the prog
ress of events, the cravings of labor
and the condition OF industry, re-
Gently made formal offer to turn
over the whole plant and establish
ment to the work people, to be man
aged by themselves, or their own
advantage, upon a cooperative basis.
He and his partners are ready to
relieve themselves from all control
and authority over the Trenton
Iron Works and deliver them to
the men in his service, upon con-
dition that the firm is guaran-
teed the payment Of 6 per cent.
annual interest upon the capital in
vested. The majority of the workers
who thus have it in their power
to become their own capitalists are
members OF the order of the Knights
of Labor, and the proposition has for
some time past been under consid
Grafton by District Assembly 80, at
Trenton. The general sentiment is
strongly in favor of its acceptance,
though of course there is some diff
Guilty about tho furnishing of the re-
quired guarantee. If matters can be
properly arranged, and the transfer
effected, the people will see one of
the most remarkable experiments
ever undertaken in the world of
modern industry-nearly 1000 work
men managing the entire business of
one Of the largest iron manu-
factories in the United States, choos-
ing their own directors, selecting
heads OF departments, appointing
the foremen and assigning them
selves their respective duties, with
the wages thereof. If all this can
be done tremendously, for the bene-
fit of all concerned, the Trenton CO.
operative Iron Works, now the prop
erty of Cooper, Hewitt & Co., will
attract the attention of capitalists,
wage earners and philosophers all
over the land.
For many years Abraham S. Hew-
lit has been an advocate Of the in
dustrial system which he now pro-
poses to put to a practical test. In
an address, published in pamphlet
form, which he delivered about ten
years ago before convention of the
Episcopal Church, he mooted the
question in q manner which showed
how thoroughly he had studied it in
all Its bearings; and again, at later
Gate, in an elaborate speech in Con-
gress, he returned to the subject,
and suggested the new system as the
logical remedy for the troubles that
are now agitating the industrial
world. II is, therefore, after mature
thought, that his present radical
proposal is made.
Those who have watched the novel
growth within the past few years OF
the system Of profit sharing" in the
industrial establishments Of the
United States, will be least surprised
by the news of Mayor Hewitt's
scheme. In the North American
Repiew for April N. q. Nelson, of
ST, Louis, told Of the result of profit
sharing in great corporation under
his own control, and within day or
two dispatch from Maine has told
Of the result Of similar experiment
In shoe factory employing 500
hands There must be at least 100
establishments in various lines, pro-
ductive and distributive, where the
system is now in practice.
But Mr.. Hewitt's scheme is more
sweeping thar profit sharing; it is
full fledged cooperation.
Oh course neither Mayor Hewitt
nor any other person directly inter
essed will talk about the matter until
a decision has been reached. 1t
4 might appear to the uuprejudiced
observer that the plan proposed
would be for the benefit of the com
pany no less than for that of the la
4 borers, The iron interest has not
been very prosperous in the past few
years,and Eastern firms that have
averaged to make 6 per cent. on their
capital stock are rare. The company
in question does not pretead to have
done that.
TREASURER FREDERICK j. sLADE.
in speaking of the general condi-
ton of the company, without any ref
erence to the proposition of Mayor
Hewitt, said: The iron industry
sees seven bad years to three good
ones. We have had our proportion
OF the bad years, and | see no reason
why the immediate future should not
show moderate prosperity. At the
same timo 1t is tact that works sit
uated 30 far east as ours are under a
disadvantage. Business is moving
westward, and our market is getting
further away from us every wear
We have on y one advantage here.
and that consists in our facilities TOR
shipping. In this, however, we do
not, compare with our Western com.
pc liars. 1t is certainly to our dis.
ANNdu'1EOs W comparison Win COM
panies ia similar business in Pitts.
burg, that we are obliged to shin our
goods 10 our customers and have them
60 right by the doors OF our compet-
itors Then we are very far from
coal"
"3ut the company has made
money!"
well, they haven't made a mint
4 Our profits for a series Of years
would not average 5 per cent, and
Mr.. Slade spoke with an accent
which indicated that they would not
come very near it. However, he
continued, I'VE have kept the works
in operation most of the time. We
4 have never had a shut down of any
considerable length. Our profits
have not been exceptionally low.
Almost any firm Of the kind would
be fortunate with 3 per cent"
Will the interstate commerce bill
influence your profits in the iuture2"